Equirus launches $25M fund to back seed-stage tech startups

Mumbai-based financial powerhouse Equirus has kickstarted a new $25M venture, the Equirus InnovateX Fund, focusing on seed-stage technology startups. The fund is set to be managed by Sunder Nookala, alongside Sadhika Agarwal, the co-founder of Sudo Foods and a skilled investment banker.

• Equirus' Investment Approach: The Equirus InnovateX Fund plans to allocate an average sum of $500,000 to $1M to 15 to 20 early-stage startups in sectors such as SaaS, deeptech, fintech, and others. The fund has a particular interest in B2B propositions.

• Rethinking Venture Investment: Nookala, an early-stage venture capitalist and the Head of Tech and Digital at Equirus, has noted a significant shift in investment tactics post-2022. He anticipates that this careful approach to venture investing will persist, favoring solid business models that present a strong potential for monetization.

• The InnovateX Fund's Vision: Equirus InnovateX Fund aims to be more than just a financial catalyst. As Nookala puts it, the fund is a strategic alliance designed to spark innovation, drive growth, and contribute to the success narratives of the forthcoming tech leaders. Moreover, the fund plans to provide its portfolio companies with strategic advice, governance aid, and support in building sustainable enterprises.

Equirus Group, aside from launching the InnovateX Fund, provides comprehensive financial services such as investment banking for corporate banking solutions, structured finance, private equity, M&A, insurance broking services, and wealth products and portfolio management.